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TORONTO, Jan. 21, 2016 /CNW/ - Portfolio Strategies Securities Inc. ("PSSI") in its capacity as manager announced today its intention to terminate Foundation Tactical Balanced Portfolio (the "Fund") on or about March 24, 2016. Effective January 21, 2016, the Fund will no longer accept additional investments.

On October 27, 2015, PSSI announced the intention to hold a meeting of unitholders of the Fund on or around February 9, 2016 to seek unitholder approval to change the investment objective of the Fund. PSSI has since determined that the Fund will be terminated due to the small number of unitholders, relatively low asset size, and the costs associated with maintaining a fund of this size.

In accordance with securities legislation, a notice describing details of the Fund's termination will be sent to unitholders of the Fund no less than 60 days prior to the effective date of termination.

Existing unitholders have the option to redeem their investments in the Fund on or prior to the termination date. Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the Fund.

PSSI encourages all unitholders to consult with their financial advisors to discuss the financial and tax implications of the termination in their particular circumstances.